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HB 7798 Rhode Island House · 2026 Regular Session

AN ACT RELATING TO PROPERTY -- FIRST TIME HOME BUYER SAVINGS PROGRAM ACT

Summary
Establishes the first time home buyer savings program act. Allows modifications to federal adjusted gross income for $50,000 in contributions and $150,000 of interest and dividends included in federal adjusted gross income.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates tax exclusion for first-time homebuyers' contributions/interest, providing tax relief to middle-income households per tax relief indicator.92% confidence ✓ HousingSupports HousingEstablishes first-time home buyer savings program with tax incentives, directly advancing affordable housing accessibility through homeowner savings support.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 12, 2026 Last action Feb 12, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
1
Key actions
0
Committee
0
Feb 12, 2026
Introduced
02/12/2026 Introduced, referred to House Finance
lower
3 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Brian Newberry
Brian Newberry
RRepublican
RI
48
P
Photo of David Place
David Place
RRepublican
RI
47
P
Photo of George Nardone
George Nardone
RRepublican
RI
28